The move is an apparent attempt to douse growing social frustration in the wealth gap between the country’s rich and poor — and to stop corruption conducted through luxury gift-giving. Such ads had “publicized incorrect values and helped create a bad social ethos,” said China’s television watchdog, the State Administration of Radio, Film and Television (SARFT), reported Xinhua, the country’s official state-run news agency. The ban includes commercials for high-end watches, gold coins and rare stamps and comes on the eve of China’s Lunar New Year celebrations that begin this weekend. The holiday, compared to Christmas in the West, is a time of intense gift- and money-giving.

cpp-luxury.com